Question

"the ruppee is widely excepted as a medium of exchange".explain.

Answer 1

The rupee is widely accepted everywhere in India because :
1. It is authorised by the government of the country.
2. In India, the law legalises the use of rupee as a medium of payment that cannot be refused in settling transactions anywhere within country, and no individual can legally refuse a payment made in rupee.

Answer 2

rupee is widely accepted everywhere in India because :

1. In India, the law legalises the use of rupee as a medium of payment that cannot be refused in settling transactions anywhere within country, and no individual can legally refuse a payment made in rupee.

2. It is authorised by the government of the country.

A look into the past will make you realise that India is no new to demonetisation. Demonetisation has been implemented twice -1946 and 1978 – in the past. The first currency ban: In 1946, the currency note of Rs 1,000 and Rs 10,000 were removed from circulation